CVS-Aetna Merger Clears Crucial Hurdle With Justice Department Approval
The deal is one of several in recent years that has consolidated power among health care companies. Critics worry that the mergers will mean fewer choices and higher health care costs for consumers. “The combination of CVS and Aetna creates an enormous market force that we haven’t seen before,” said George Slover, a senior policy counsel for Consumers Union. CVS still needs to get approvals from several states.
The New York Times:
CVS Health And Aetna $69 Billion Merger Is Approved With Conditions
The Justice Department’s approval of the $69 billion merger between CVS Health and Aetna on Wednesday caps a wave of consolidation among giant health care players that could leave American consumers with less control over their medical care and prescription drugs. The approval marks the close of an era, during which powerful pharmacy benefit managers brokered drug prices among pharmaceutical companies, insurers and employers. (Abelson, 10/10)
The Associated Press:
DOJ Approves $69B CVS Health-Aetna Merger, With Conditions
The Justice Department on Wednesday approved the deal on the condition that Aetna moves ahead with its plan to sell its Medicare Part D prescription drug plan business, resolving some anti-monopoly issues. (10/10)
The Washington Post:
CVS’s $69 Billion Merger With Aetna Is Approved In Deal That Could Transform Health-Care Industry
The tie-up will allow CVS — whose retail pharmacy business serves 5 million customers a day — to turn more of its brick-and-mortar locations into front-line clinics for basic medical services and patient monitoring. By deepening its knowledge of and relationships with patients, CVS has said the combination could help Americans stick with medication regimens and stay out of the hospital. (Fung, 10/10)
The Wall Street Journal:
Justice Department Approves CVS-Aetna Deal
CVS said that it already had gotten “many” of the state approvals it needs. “We are pleased to have reached an agreement with the Justice Department that maintains the strategic benefits and value creation potential of our combination with Aetna,” said CVS’s chief executive, Larry Merlo. “We are now working to complete the remaining state reviews.” Aetna rival Cigna Corp. has already gotten Justice Department antitrust clearance for its acquisition of Express Scripts Holding Co. , which also brings together a major health insurer with a pharmacy-benefit manager. (Wilde Mathews and Maidenberg, 10/10)